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Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
 COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian iron ore shipments surge ever year. Data released from Vale last week shows that iron ore shipments during the first half of this year, while up considerably on a year-on-year basis, decreased from the second half of 2013 by 23.7 million tons (-14%). Iron ore shipments during the first half of this year totaled 144.7 million tons, while shipments during the second half of 2013 totaled a record 168.4 million tons.
Such a large decrease in Vale’s iron ore shipments occurs during the first half of every year, as Brazilian iron ore production is very seasonal. Every year sees a surge in Brazilian iron ore production (and shipments) occur during the second half of the year, followed by a large decline during the first half of the following year, and then a large increase again during the second half of that year. For example, the first half of 2013 saw Vale’s iron ore shipments total 137.2 million tons. The second half of 2013 saw Vale’s iron ore shipments increase to 168.4 million tons. The first half of 2014 saw Vale’s iron ore shipments fall to 144.7 million tons. The decline is normal, expected, and puts pressure on capesize rates.
A very large decrease in Vale’s iron ore shipments occurs during the first half of every year, and yet capesize rates still managed to average $14,135/day during the first half of this year. This is a far cry from the first half of 2013, which saw capesize rates average only $6,136/day. At present, some analysts hold a flawed view of the capesize market. In spite of the annual decline in first half of the year Brazilian iron ore shipments, capesize rates still averaged $14,135/day and saw several short-term and medium-term surges in rates. As recently as June, capesize rates peaked three separate times with all three of June’s peak coming just a few hundred dollars shy of exceeding the $15,000 level.
While Brazilian iron ore shipment volume and capesize rates experienced a lull in July, a very large surge in Brazilian iron ore shipments is about to begin. Vale’s performance report released last week showed that its iron ore shipments during the first half of this year totaled 144.7 million tons. Vale also announced that its total shipment volume for this year is expected to reach at least 321 million tons. Vale is extremely likely to meet this target (and very possibly exceed it), which means that Vale's iron ore shipments during the second half of this year will total at least 176.3 million tons. This would mark an increase of 31.6 million tons (22%) from shipments seen during the first half of this year.
Great strength in the capesize market has all along been set to occur during the second half of this year; the fundamentals have not changed and Brazilian iron ore shipment volume is following its normal seasonal trends. At the same time, Vale’s iron ore production expansion program also remains on schedule. Going forward, a very large surge in Brazilian iron ore shipments is about to occur.
- Jeffrey Landsberg -
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Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
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- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Parliament of New Zealand
- Planning Commission, India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
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